Fly Leasing Expands Portfolio

Fly Leasing Ltd. said it acquired a portfolio of 49 jetliners from a smaller lessor for $1.4 billion, significantly expanding one of four listed airplane-leasing companies.

With the acquisition from Global Aviation Asset Management of Australia, Fly's fleet will expand to 109 aircraft, the company said. That would rank it among the world's 15 largest plane lessors, according to aviation consultants Ascend Ltd.